Dadar Matunga Cultural Centre To Host Kavi Samelan-By Sachin Murdeshwar

Dadar Matunga Cultural Centre To Host Kavi Samelan

Tara Jewels Unveils Its IPO this Diwali:By Sachin Murdeshwar.

                  Tara Jewels to launch IPO on 21st November.

 

Mumbai,19th Nov.2012. (Sachin Murdeshwar) : Jewellery manufacturer and exporter,Mumbai based, Tara Jewels today said it had fixed the price band for its IPO at Rs 225-230 a share, which will open for subscription on November 21, 2012.

The Company’s CMS Mr Rajeev Sheth told mediapersons here today, “The issue, which will close on November 23, comprises fresh equity shares worth Rs 197.5 crore and an offer for sale of Rs 70 crore worth of shares by Fabrikant H K Trading,.Out of the total funds raised from the proposed initial public offering (IPO), Rs 70 crore will be for offer for sale to Fabrikant H K Trading, the balance will be used for funding the retail expansion in the country, repay debt and working capital. The company conducts jewellery retail operations in the domestic market under the brand ‘Tara Jewellers’ and currently has 30 existing stores spread mainly in west, central and the north.”

“We are planning to an additional 20 retail stores by the end of this financial year mostly in the north and the central region. These stores will be in tier I, II, III and IV cities catering to the middle class,” he added.

” The company primarily exports to Australia, China, Canada, European Union, South Africa, UAE, the UK, and US. Going forward, the company will explore export opportunities in South and Central America.The company has four manufacturing units, three in Mumbai and one in China,” he said.

Net profit of the company rose 33% year-on-year to Rs 54.13 crore and total revenue increased 22.5% to Rs 1,401.05 crore in FY’12.

Sheth, who is also the promoter, holds 73.15% stake in the company while Fabrikant HK Trading and Crystalon Finanz AG hold 16.36% and 9.09% stake, respectively.

Enam Securities Private and ICICI Securities are book running lead managers to the issue, while Link Intime India is the registrar to the issue.

The equity shares are proposed to be listed on the BSE and National Stock Exchange of India

Hindu Hriday Samrat Shiv Sena Supremo The Pride Of Maharashtra Bids Farewell To The Nation Forever.:By Sachin Murdeshwar

MUMBAI,18th Nov.2012 (Sachin Murdeshwar) : The mortal remains of Bal Thackeray , a Hindutva mascot and flagbearer of Marathi pride, were consigned to flames on Sunday evening as lakhs of mourners joined the Shiv Sena founder’s grieving family to bid him a tearful farewell, with the city observing a virtual shutdown.

In a spontaneous outpouring of grief, a sea of humanity, unprecedented in recent memory, descended on the streets leading from “Matoshree”, Thackeray’s Bandra home, to Shivaji Park, to catch the last glimpse of the uncrowned king of Mumbai.
As several times in life, the Thackeray phenomenon was in evidence once again in death as he brought Mumbai to a halt with all marketplace, from the swanky malls to the tiny tea stalls and ‘paan-beedi’ kiosks, closed and all roads leading to “Matoshree”, Shiv Sena Bhavan in Dadar and Shivaji Park, where his last rites were performed.
Loud roars of “Parat ya parat ya Balasaheb parat ya (Come back, come back, Balasaheb come back), Kon ala re, kon ala Shiv Senecha wagh ala (Who has come, who has come, Shiv Sena’s tiger has come)” and “Balasaheb amar rahe” (long live Balasaheb) rent the air as an emotional Uddhav, the youngest son of the departed leader and Sena’s executive president, lit the pyre.
In a reflection of the respect Thackeray commanded across the board, a galaxy of politicians, from allies to rivals, film stars to captains of industry were attendance.
Those present included long-time political rival and personal friend Sharad Pawar, BJP chief Nitin Gadkari, senior party leader LK Advani, leader of opposition in the Lok Sabha Sushma Swaraj, opposition leader in Rajya Sabha Arun Jaitley, Gujarat chief minister Narendra Modi, his Madhya Pradesh counterpart Shivraj Singh Chauhan, and Union ministers Praful Patel and Rajiv Shukla.
Superstar Amitabh Bachchan, with whom Thackeray shared a long-standing bond, actor Nana Patekar, filmmakers Madhur Bhandarkar and Mahesh Manjarekar, industrialists Anil Ambani and Venugopal Dhoot and Zee’s Subhash Chandra reached Shivaji Park hours ahead of the funeral.
Ex-Sena leader Chhagan Bhujbal, who got Thackeray arrested after becoming NCP’s deputy chief minister and home minister in a little known case after a bitter fallout, and Congress MP Sanjay Nirupam, who also broke away from the saffron party, were among those present.
In a measure of respect and influence Thackeray commanded over generations of Maharashtrians, the government allowed his funeral to take place at Shivaji Park, never a venue for such events, and accorded him a state funeral, the first public funeral after Bal Gangadhar Tilak’s in 1920.
Maharashtra Governor K Sankaranarayanan and chief minister Prithviraj Chavan placed wreathes on the Sena patriarch’s body.
A contingent of Mumbai Police gave a gun salute and buglers sounded the last post, a rare honour for somebody who never held any official position.
Even as elsewhere Mumbai turned into a ghost city with not a taxi or an autorickshaw in sight and markets, restaurants, cinema theatres and muliplexes closed, the Bandra-Shivaji Park stretch came alive with slogan-shouting Sena supporters.
As the firebrand leader’s final journey began from “Matoshree”, his son Uddhav could not control emotions and broke down atop the flower-bedecked truck carrying among others his wife Rashmi and sons Tejas and Aditya, the ‘Yuva Sena’ chief.
Conspicuous by his absence from the truck carrying a massive poster of Thackeray against the image of the tiger, the Sena’s symbol, with saffron flags aflutter, was his nephew and MNS boss Raj Thackeray who chose to walk some distance with the mourners before taking care of arrangements for the funeral at Shivaji Park.
As the procession inched towards “Shiv Sena Bhavan”, the party headquarters, tens of thousands supporters and onlookers lined the streets, balconies and flyovers, with many clambering atop lamp posts and trees to catch a sight of the leader. Many showered the mourners with flower petals.
It took the cortege nearly 8 hours to cover the 10km stretch between “Matoshree” and Shivaji Park.
The cortege made a brief halt at “Shiv Sena Bhavan”, built by Thackeray in 1977, where his body was kept for top party leaders to pay homage to the Shiv Sena patriarch. It was out of bounds for the common Sena workers.

RAJ , UDDHAV or ADITYA : Who is the future of Sena?:By Sachin Murdeshwar

RAJ , UDDHAV or ADITYA : Who is the future of Sena?

Mumbai,17th Nov.2012.(Sachin Murdeshwar):This is one question that has probably been on the minds of supporters and detractors alike, ever since Shiv Sena supremo Bal Thackeray  took ill and failed to turn up at the party’s Dussehra rally this year: Who is the future of Shiv Sena? In the video that was played at the rally, the visibly frail Shiv Sena chief had exhorted his followers to extend support to his son Uddhav and grandson Aditya, like they had done in his case. The message was clear Bal Thackeray no more had a grip on the party’s reins, and that had a lot to do with his steadily failing health.

 

With Thackeray’s death, the question, naturally, is being asked a lot more. While Raj Thackeray and his uncle seemed to have shown signs of mending burnt bridges a few days ago, critics are already wondering if a weak leadership in the Shiv Sena will benefit the Maharashtra Navnirman Sena.

Uddhav, who was seen crying profusely at the procession, cut a starkly different figure from Raj, who was still seen holding his own, organising a separate padytara in front of the truck carrying the body. The public image of Bal Thackeray – that of a man with steely determination, unflinching in the pursuit of his goals and far-from being emotive in public – seemed uncannily similar to that of Raj than Uddhav’s. Political analysts are already placing the Sena’s future in Raj’s hand making occasional allowances for Uddhav’s son Aditya, who is presently leading the students wing of the party.

The death of Bal Thackeray could, however, prove to be the last straw. This is because the Sena doesn’t have any leader who can command the respect and adulation that Thackeray did. While Uddhav has been in charge of the Sena for more than a decade now, he has not been able to mobilise the masses like his father. This explains why Raj managed to eat into the Marathi votes, a traditional vote bank of the Sena, in the 2009 assembly elections. The Sena came a miserable fourth.

The article pointed to the fact that Shiv Sena had managed to stay afloat despite several setbacks, which included the loss of influential leaders Chhagan Bhujbal, Sanjay Nirupam and Narayan Rane to other parties, thanks to Bal Thackeray’s leadership and the Sena supporters’ implicit faith in their leader’s vision.

The article also quotes a Shiv Sena leader as saying that it was Raj and not Uddhav who managed to measure up to Bal Thackeray in charisma.

An editorial in IANS  observes how Uddhav has more than just a handful of issues to tackle. Given that he doesn’t come close to his father when it comes to exhorting regionalistic sentiments with impassioned rhetoric, the Sena agenda stands the risk of an imminent hijack by the MNS.

Political analysts say Uddhav has his job well-cut after his father’s demise. In the absence of Bal Thackeray’s overwhelming personality, check the growth of its ally BJP, thwart attempts by the Congress-NCP to undermine Shiv Sena, and probably risk an understanding with the MNS to prevent further erosion of Sena vote banks.

However, some staunch followers of the Sena have placed their faith in 22-year-old Aditya who already seems to be showing signs of his grandfather’s edge. Local vernacular newspapers noted how Aditya stunned supporters with his first ever public speech as the leader of the student’s wing of the Sena.

While it is a little too premature to predict the future of the Shiv Sena, all eyes will be on Uddhav, Raj and the two parties in the coming days as the state heads towards elections in 2014, a crucial test for the political survival of both Thackerays.

Eureka Forbes launches "Fireguard – EuroVigil"-By Sachin Murdeshwar

Eureka Forbes launched Fireguard – portable Fire Extinguishers under brand name EuroVigil

Mumbai,7th Nov.2012.(By Sachin Murdeshwar):After introducing solution that ensure safe drinking water and clean , secure homes and offices for our consumers, Eureka Forbes is now introducing a revolutionary line of products that shall keep the homes and offices safe from fire and meet the evolving lifestyle purification needs of customers. Speaking on the occasion of the launch of a patented portable Fire Extinguisher – Fireguard, the Executive Vice Chairman, Mr. Suresh L. Goklaney said, “we have worked along the forces of the nature i.e. Earth, Water, Air, Environment and now Fire. Eureka Forbes has been built on sustainable relationships with customers, as their ‘Friends for Life’ by satisfying their evolving health, hygiene, safety and lifestyle needs

Eureka Forbes Limited is India’s leading health and hygiene brand. It is a multi-product, multichannel organization with a gross group turnover of Rs. 15,649 mn for the year ending on 31st March 2012 and a global footprint across 35 countries. A part of Shapoorji Pallonji Group, Eureka Forbes’ product portfolio encompasses water purification, vacuum cleaning, air purification and home security solutions with a base of over 15 million happy customers. In its 30 years of existence, Eureka Forbes has been a pioneer and trend setter in direct selling in India and today is one of the largest direct selling companies in the world.

 

Aquaguard is the flagship water purifierbrand of Eureka Forbes and has been conferred with numerous Indian and international awards for its superior technology.

Speaking on the new Strategic Partnership with Waterlogic, Mr. Suresh L Goklaney said, “Eureka Forbes is now looking at strengthening its presence in the premium water purifiers segment in India.

We are happy to partner with Waterlogic, one of the most respected global names in the water purification industry. With this partnership, we will be launching first of their kind aesthetically superior and technologically advanced water purifiers in India which will take the Aquaguard brand to new heights in the luxury consumer durable space. While we continue to deepen its roots in urban and semi urban areas, we will also now cater to the lifestyle and luxury needs of the crème de la crème of India.”

He said, going forward, Eureka Forbes will bring in many more world class solutions to India through its strong R&D and strategic tie-ups

 

You can contact the author at hindmatanews@gmail.com

 

Vadilal will double its processed food sales in the next three years.:By Sachin Murdeshwar

Vadilal to double processed food sales to Rs 100 cr

Mumbai, November 7, 2012.(Sachin Murdeshwar):Vadilal Industries Ltd is planning to double its processed food revenues to over Rs. 100 crore in next three years on the back of growing demand for its large variety of frozen processed foods in domestic as well as export markets. Vadilal, widely known as the second largest ice cream player in India is also amongst the largest branded processed food players in the country and has been one of the pioneers in exports of Indian frozen food products.

With a brand new packaging, the company is going to aggressively grow this business in India and globally under the ‘Quick Treat’ brand. After having established a strong presence in Gujarat, Mumbai, Rajasthan and UP for domestic markets, Vadilal will soon expand in a big way in the National Capital Region (NCR). Thereafter, it will tap all the major cities in the south, north and east. For exports, Vadilal will focus on North America, Middle East, UK, South Africa and Australia.

Elaborating on the company’s plans for the frozen foods business, Mr. Rajesh Gandhi, managing director, Vadilal Industries Ltd. said, “Due to the changing lifestyle of the young generation in India, especially in case of working couples, there has been a spurt in the demand for ready to eat (RTE) frozen foods across all major cities. Vadilal is tapping this fast growing market with a wide variety of products and through optimal utilisation of modern retail. We expect our domestic sales for frozen foods to grow by around 30% annually over the next few years and our focus will be on higher margin value-added products.”

“We have been amongst the first few frozen food companies to have tied up with almost all the major organised retail format stores in India like Hypercity, Star Bazaar, Food Bazaar, D Mart, Nature’s Basket, Reliance Fresh, Reliance Mart, ABRL and Spencer’s. Understanding the future growth of cash and carry format stores, Vadilal products are also listed in Walmart’s Best Price, Reliance Market and Metro. In future, our ready to eat products will also be available at mom & pop stores,” added Mr. Devanshu Gandhi, managing director, Vadilal Industries Ltd.

“Vadilal Quick Treat’s new packaging stands for energy, dynamism, unanimity, uniformity and most importantly – convenience. The base colour, Sunshine Yellow, that flows through all the packs not only provides unanimity to the whole identity but also, stands for the energy and enthusiasm of a new beginning. We are now focusing on the lighter side of something as tedious and time consuming and at the same time, as special as cooking. The units at the front of the pack highlight the health benefits that the products offer i.e. No cholesterol, Trans-fat free, No preservatives along with being pure vegetarian,” said Mr. Rajesh Gandhi.

Vadilal with its signature font has now a new colour identity - blue stands as the category colour for frozen. However the font of Quick Treat has a distinct perky look. The three coloured bands around the logo, which also engulf the product image, signify the frozen to serve hot transition of food. With blue being frozen and red signifying the hot ready to eat product. Yellow marking the transitory phase. The unit has the three essential colours same as that of the band, each signifying the unanimity of brand elements. The three petals and a smiley like vector signify the freshness associated with food and the fulfilment and happiness it gives beyond the very obvious easy and convenience that comes with VQT and hence ‘Shortcut to Happiness’.

“Understanding the large potential and requirements of the institutional category in India, Vadilal has introduced bulk packets for its existing ready to eat (RTE) products too. This category is extremely price conscious. Without compromising on the quality of ingredients, Vadilal has come up with innovative, affordable and convenient bulk packs. ‘Mini meals’ will be a new entry into the category,” said Mr. Devanshu Gandhi.

In 2011-12, Vadilal’s frozen foods sales were around Rs. 50 crore, with exports accounting for about 70% share and rest from domestic market. The company has already invested significantly over the last few years in modernising and expanding its frozen foods manufacturing facility. From its current network of 282 active distributors and 23 C&F agents, the company is planning to grow it to 400 distributors and 40 plus carrying & forwarding (C&F) agents over the next few years so as to reach out to major cities across the country.

 

VIBGYOR High School will host 4th edition of -"VIVA -Fest" 2012-13

Mumbai Nov.02,2012.(Sachin Murdeshwar):- VIBGYOR High School today announced the 4th edition of its annual inter-school fest-VIVA - with the unveiling of a new logo & theme song for the annual gala event to held across its 15 branches in India from December 2012 to February 2013. In pic Ms. Kavita Sahay, Director, School & Academics VIBGYOR High hand over Shreya Deshpande’s Award.@ also seen Mr. Rustom Kerawalla, Founder Chairman, VIBGYOR High.

 

Hager Expands Market Presence In India.:By Sachin Murdeshwar

Mumbai,Nov.2,2012. (Sachin Murdeshwar) : Hager Electro Pvt. Ltd., a 100% owned subsidiary of Hager Electro SAS, France, has unveiled its new business model in India. Hager brand is renowned for its aesthetic and reliable electrical and home automation products/solutions for residential, commercial and industrial installations.

Mr Benoit Lecuyer, Managing Director, Hager India said, “The Hager group in its strategic initiative Project 2015 has identified India as one of the strategic countries to invest and grow market share ambitiously. The objective is to double revenues by 2015. Thanks to our new business model, Hager products are now distributed through a network of more than 170 channel partners.Further he added “Industrial investments has started paying off, with almost 80% of turnover coming from local manufacturing. This also has helped job creation for skills in India in all the departments of the subsidiary. A new distribution centre has also been set up to ensure on time deliveries throughout the country. We will continue to invest more than 5% of our turnover in new products and we are open to possible technical alliances .”

“Product and market portfolio diversification is key to Hager’s growth in India. The roadmap is charted. Year 2012 saw a slew of new product launches from Hager’s global portfolio and 2013 too would be an eventful year. Product launches planned will facilitate Hager’s entry into new market segments. This in turn will bring further investments.” said Praveen Kumar Nair P, Head – Sales & Marketing.

Hager has launched its KNX protocol based home automation solutions, H3 Moulded Case Circuit Breakers( MCCBs) and photovoltaic system protection. The company recently acquired Elcom, a German based organisation specialized in Video door phone business. Aligned with Hager global initiative E3, (Ethics, Environment, Energy) Hager is working towards launching a social initiative, ESSI, the Electrically Safe and Smart Installations, to drive safe electrical practice awareness amongst mass.

Chevrolet Sail U-VA Launched By General Motors India.:By Sachin Murdeshwar

General Motors India launches Chevrolet Sail U-VA in Mumbai.

Mumbai Nov.02,2012.(Sachin Murdeshwar) :- General Motors India launches Chevrolet Sail U-VA in Mumbai.The Launch was done at a grand function in Hotel Taj lands End,Bandra. In pic Mr. Anil Mehrotra, Vice President & Chief Financial Officer, GM India & Vikas Jain, Marketing.

MFI -YES BANK National Press Photo Contest 2012.Award Function & Coffee Table Annual Photo book launched In The City.:By Sachin Murdeshwar

Media Foundation Of India (M F I) And YES Bank Hosted  Discovery Award Felicitation Of Photo Journalist at Nehru Center in Mumbai on Wednesday 31st October 2012.

 

 

Mumbai Nov.1,2012.(Sachin Murdeshwar):Chief Minister of Maharashtra, Shri. Prithviraj Chavan flanked by Dr. Rana Kapoor, Founder, MD & CEO, YES BANK (On his left) and Mr. Ranjit Hoskote, Chairman, Media Foundation of India unveiling the MFI -YES BANK National Press Photo Contest 2012 annual photo book at Nehru Centre on Tuesday evening. The photo book contains winning photographs from 27 photojournalists from across India. The cover photo on the book is shot by India Today photojournalist Mandar Deodhar who won the “Picture of the Year” grand prize worth Rs 75,000. 6,500 photographs competed for prizes in six categories including General News, Spot News, Sports, Daily Life, Art & Culture and Best Photo Stories.

SBT H1 Net Profit Up By 24%.:By Sachin Murdeshwar

State Bank of Travancore (SBT) H1 Net Profit Up By 24%.

Mumbai,2nd November,2012. (Sachin Murdeshwar) : State Bank of Travancore (SBT) has posted a higher net profit of Rs.317.07 crore in the first half year 2012-13 compared to Rs.256.20 crore in the same period last year. The growth in net profit is 24%. The performance of the Bank for the first half year of the current financial year was taken on record at a meeting of the Board of Directors of the Bank held on 1st November 2012.

The SBT MD Mr P Nanda Kumar told mediapersons here today that, “The operating profit (before provisions) for the half year ended 30th September 2012 is Rs.641.43 crore vis-à-vis Rs.580.40 crore for the corresponding half year in 2011- 12. Net Interest Income shows increase of 14% from Rs.874.21 crore in H1:2011- 12 to Rs.993.73 crore in H1:2012-13. Non-interest income has increased from Rs.298.91 crore during first six months last year to Rs.307.18 crore in the current half year. Net Interest Margin [NIM] stood at 2.50% against 2.63% in September 2011.”

He further stated,” The Capital to Risk Weighted Assets Ratio (CRAR) of the Bank as on 30th September 2012 improved to 12.41% [under Basel II framework] as against 12.18% in September 2011. The Regulatory minimum prescribed by Reserve Bank of India is 9%. Gross NPAs stood at 2.98% (2.84% in September 2011) and Net NPAs at 1.74% against 1.77% in September 2011. The novel concept of Asset Tracking Cells (ATCs), intended primarily for containment of NPAs, are functioning effectively at all the centres. Bank is making all out efforts for NPA recovery as well as for improving the quality of its advance portfolio, thereby reducing the NPAs to the
minimum possible level.”

The Total Business of the Bank had crossed Rs.1,34,000 crore as on 30th September 2012. The Deposit base of the bank increased by Rs.3,882 crore to Rs.75,352 crore (from Rs. 71,470 crore as on 31st March 2012). NRI Deposits showed a growth of Rs 2,487 crore during the same period to reach Rs 17,796 crore. Gross advances rose by Rs.2,633 crore to Rs.58,667 crore (from Rs.56,034 crore as on 31st March 2012). Bank’s Priority Sector Lendings grew by Rs.3,864 crore during the past six months from Rs.20,287 crore as on 31st March 2012 to touch Rs 24,151 crore as on 30th September 2012. The level of lending to Agriculture segment stood at Rs.9,836 crore as on 30th September 2012. Bank’s MSME lendings as on 30th September 2012 was Rs.8,598 crore. The Bank had extended financial assistance to 1,321 SHGs during the half year and disbursed a loan amount of Rs.27.49 crore. The cumulative disbursal to SHGs as on 30.09.2012 was Rs.765.25 crore. The “Haritotsavam 2012” (Intensive Agricultural Lending Campaign) concluded on 30.09.2012 is expected to have its effect on increasing the Agricultural lending in the days ahead. Further, the Bank’s ongoing MSME lending campaign, the Housing Loan and Car Loan Campaigns will provide the much needed fillip to the sectors, at the earliest.

Mobile Banking Registrations increased by 30,151 during the half year, reaching the total registrations to 1.04 lacs. Internet Banking accounts increased by 52,391 during the half year, taking the total number of registrations to 5.07 lacs. The Bank is actively encouraging use of Electronic Payment systems, Mobile Banking and Internet Banking facility.